Mitsubishi UFJ Asset Management Co. Ltd. Has $2.59 Billion Stock Position in Broadcom Inc. $AVGO

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,401,136 shares of the semiconductor manufacturer’s stock after buying an additional 634,577 shares during the quarter. Broadcom comprises about 2.1% of Mitsubishi UFJ Asset Management Co. Ltd.’s holdings, making the stock its 7th largest position. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Broadcom worth $2,591,423,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Cheviot Value Management LLC bought a new position in shares of Broadcom in the first quarter worth approximately $25,000. Sawyer & Company Inc grew its stake in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 shares in the last quarter. Legend Financial Advisors Inc. bought a new position in shares of Broadcom in the 2nd quarter worth $28,000. LGT Financial Advisors LLC bought a new position in shares of Broadcom in the 2nd quarter worth $31,000. Finally, Greenline Partners LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the sale, the chief executive officer owned 725,638 shares of the company’s stock, valued at $246,412,152.04. This represents a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $350.15, for a total transaction of $280,120.00. Following the completion of the sale, the director directly owned 22,182 shares in the company, valued at approximately $7,767,027.30. This trade represents a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,218,280. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Arete Research raised Broadcom to a “strong-buy” rating in a research note on Monday, July 28th. TD Cowen upped their price objective on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Rosenblatt Securities increased their price objective on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Sanford C. Bernstein boosted their target price on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $372.52.

Broadcom Trading Up 0.9%

NASDAQ AVGO opened at $355.22 on Thursday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $386.48. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $348.26 and a 200-day moving average of $293.39. The firm has a market cap of $1.68 trillion, a PE ratio of 90.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s payout ratio is presently 60.20%.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.